JPMorgan Chase & Co. Lowers KeyCorp (NYSE:KEY) Price Target to $22.50

KeyCorp (NYSE:KEY) had its target price lowered by stock analysts at JPMorgan Chase & Co. from $24.50 to $22.50 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 9.30% from the stock’s current price.

Several other equities analysts have also recently commented on the company. Stephens upped their price target on KeyCorp from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Wells Fargo & Company set a $18.00 price objective on KeyCorp and gave the stock an “underperform” rating in a report on Tuesday, January 6th. Weiss Ratings upgraded KeyCorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 25th. TD Cowen reaffirmed a “buy” rating on shares of KeyCorp in a research report on Wednesday, January 7th. Finally, Truist Financial decreased their price target on shares of KeyCorp from $23.00 to $22.00 and set a “hold” rating on the stock in a research note on Monday, March 23rd. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.61.

KeyCorp Stock Performance

NYSE KEY opened at $20.59 on Tuesday. The company’s fifty day moving average is $20.83 and its two-hundred day moving average is $19.75. KeyCorp has a 52-week low of $12.78 and a 52-week high of $23.34. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market capitalization of $22.08 billion, a price-to-earnings ratio of 13.54, a P/E/G ratio of 0.66 and a beta of 1.07.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The business had revenue of $5.45 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the prior year, the business earned $0.30 earnings per share. The firm’s revenue for the quarter was up 131.8% on a year-over-year basis. Equities research analysts forecast that KeyCorp will post 1.5 EPS for the current year.

Insider Buying and Selling at KeyCorp

In other news, insider Andrew J. Paine III sold 65,961 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $23.23, for a total value of $1,532,274.03. Following the sale, the insider owned 166,583 shares of the company’s stock, valued at approximately $3,869,723.09. This represents a 28.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Trina M. Evans sold 32,695 shares of the stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total transaction of $710,789.30. Following the sale, the director owned 58,719 shares of the company’s stock, valued at $1,276,551.06. This trade represents a 35.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 161,506 shares of company stock worth $3,597,481 over the last three months. Company insiders own 0.52% of the company’s stock.

Institutional Trading of KeyCorp

Several large investors have recently added to or reduced their stakes in the company. MCF Advisors LLC increased its holdings in shares of KeyCorp by 31.6% during the fourth quarter. MCF Advisors LLC now owns 1,898 shares of the financial services provider’s stock worth $39,000 after buying an additional 456 shares in the last quarter. Prime Capital Investment Advisors LLC boosted its holdings in shares of KeyCorp by 1.7% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,498 shares of the financial services provider’s stock worth $588,000 after acquiring an additional 486 shares in the last quarter. Harbour Investments Inc. grew its position in KeyCorp by 19.0% during the 4th quarter. Harbour Investments Inc. now owns 3,180 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 508 shares during the last quarter. Centennial Wealth Advisory LLC grew its position in KeyCorp by 1.2% during the 4th quarter. Centennial Wealth Advisory LLC now owns 44,986 shares of the financial services provider’s stock worth $929,000 after acquiring an additional 524 shares during the last quarter. Finally, CoreCap Advisors LLC increased its holdings in KeyCorp by 4.6% during the 4th quarter. CoreCap Advisors LLC now owns 12,198 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 539 shares in the last quarter. 79.69% of the stock is owned by institutional investors.

About KeyCorp

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.